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Violation Tracker Individual Record

Company: Olam Group Ltd.
Current Parent Company: Olam Group
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $3,250,000
Year: 2024
Date: September 27, 2024
Offense Group: government-contracting-related offenses
Primary Offense: False Claims Act and related
Violation Description: The Commodity Futures Trading Commission issued an order filing and settling charges against Olam Group Ltd., a Singapore-based integrated supply chain manager, for submitting false, misleading, or inaccurate reports to the CFTC and the U.S. Department of Agriculture in connection with the sale of U.S. cotton worth more than $190 million. The order required Olam to pay a $3,250,000 civil monetary penalty and to cease and desist from further violations of the Commodity Exchange Act and CFTC regulations, as charged.
Level of Government: federal
Action Type: agency action
Agency: Commodity Futures Trading Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: Singapore
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: agribusiness
Specific Industry of Current Parent: agricultural commodities
Source of Data: (click here)
Archived Source: (click here)
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.